Hong Kong Hedge Fund Collapse Triggers $15,000 Bitcoin Crash

A significant drop in Bitcoin's price of nearly $15,000 was linked to Hong Kong hedge funds' leveraged positions in BlackRock's IBIT ETF. The event highlights the vulnerability of financial markets to leveraged trading strategies, causing significant losses and potential regulatory inquiries. The incident underscores the importance of caution in cryptocurrency investments and the potential for future implications for hedge fund activity within the cryptocurrency landscape.